Dogecoin traded near $0.07545 on Wednesday, close to the top of its 24-hour range, shortly after on-chain data revealed an unknown whale moved 564,253,393 DOGE worth about $41.6 million from Gate to an unidentified wallet. The transaction was seen by some watchers as a possible accumulation signal, although its purpose was not disclosed. Dogecoin was up 0.7% over 24 hours but remained down 2.6% over seven days, 19.6% over 30 days, and 56.9% over one year.
Liquidation data showed $2.44 million in DOGE liquidations over 24 hours, with long positions accounting for $2.13 million and shorts for $315,790. On shorter timeframes, however, short liquidations outpaced longs, with $282,020 in shorts liquidated over 12 hours versus $174,810 in longs.
Analyst Trader Tardigrade’s weekly chart projected a long-term Dogecoin target near $2.60 around 2027, based on a rising support line drawn beneath lows from 2015 through 2026. The chart placed the latest price action near support around $0.08. In a separate monthly chart note, Trader Tardigrade said DOGE is back in a discount zone and that the last time its oscillator stayed this low for this long it marked a bottom before a major run. He noted that buyers reclaiming $0.0792 would bring resistance at $0.083 to $0.085, then $0.09 and the $0.095 to $0.10 area into view. Immediate support was seen between $0.072 and $0.073, with $0.068 as the next major level.
Network activity remained weak. Dogechain data showed about 156,972 transactions for the week starting October 28, down 41% from a year earlier. Average daily active addresses were near 32,659, down about 42%, while 61,510 new addresses represented a 55% annual decline. The Dogecoin ecosystem continued to expand, however, with House of Doge announcing an agreement on October 21 to support Dogecoin Labs, combining the MyDoge wallet app with DogeOS, an EVM-compatible layer designed to bring smart contracts to Dogecoin.
US Dogecoin ETFs had drawn approximately $15.1 million in total net inflows as of November 2, with total fund assets near $12.9 million. Over the previous 30 sessions, the funds added about $1.8 million. Markets also reacted to US midterm election results, with reports that Democrats had won control of both chambers of Congress; Bitcoin and Ethereum initially dipped, and DOGE often moves more sharply during market swings.
